Hall & Wilcox acts on first sales of assets from Hastie collapse

Hall & Wilcox Lawyers has this week acted for two groups of purchasers in the acquisition of Hastie subsidiaries Cooke & Carrick (trading as CDC Plumbing) and D&E Air Conditioning.

Cooke & Carrick’s original ownership group sold the company to Hastie in 2007 as part of that company’s expansion. A company controlled by one of the former owners, Peter Carrick, has this week agreed to purchase the assets back from Hastie for an undisclosed amount.

D&E Air Conditioning has been purchased by an entity controlled by one of its former owners, Greg Andrews.

Negotiations on both deals were commenced after Hastie entered into voluntary administration and terms of the sale were agreed to this week.

The Hall & Wilcox team on both transactions was led by commercial partner Bruce McFarlane.

“We are pleased to have been able to reach a decisive outcome so quickly after Hastie entered into voluntary administration,” Mr McFarlane said.

“CDC has long been important to its employees and the construction industry generally, and this sale provides those groups with certainty about the future of the business. The same can be said for the importance of D&E Air Conditioning to its employees and clients.

“In both cases, the new ownership groups recognised the health of the subsidiaries as being a separate proposition to the circumstances surrounding Hastie.”

Peter Carrick from CDC Plumbing said that the ownership group was both relieved and excited.

“The uncertainty for the employees and clients was very difficult to manage, but we are looking forward to re establishing the CDC business,” Mr Carrick said.

Greg Andrews from D&E Air Conditioning said he was glad to play a part in the next chapter of the business despite the circumstances around the sale.

Mr McFarlane praised the commitment and contribution of the new owners of both companies, as well as the work of administrators PPB Advisory and Henry Davis York, which also acted on the deals.

“To complete these two deals in such a short period is a testament to the commitment of everybody involved in the transactions.

“The speed with which the deals were completed will send a positive message to everyone doing business with or working for these companies,” Mr McFarlane said.

Contact

Emma Woolley

Partner & Head of Family Office Advisory

Karl Rozenbergs

Partner & Co-Lead, Health & Community

Ben Hamilton

Partner & Technology and Digital Economy Co-Lead

James Deady

Partner & Technology and Digital Economy Co-Lead

Eugene Chen

Partner & Head of China Practice

Oliver Jankowsky

Partner & Head of International Practice

John Bassilios

Partner & Fintech and Blockchain Lead

Matthew Curll

Partner & Insurance National Practice Leader

Melanie Smith

Director – Business Development, Marketing and Communications

Natalie Bannister

Partner & Commercial National Practice Leader

Nathan Kennedy

Partner, Head of Pro Bono & Community and ESG Co-Lead

William Moore

Partner & Head of Private Clients Advisory

Mark Dessi

Partner & Energy Leader

James Bull

Special Counsel & Frank Lab Co-Lead

Melanie James

People & Culture Manager

Jacqui Barrett

Partner & Head of US Desk

Lauren Parrant

Senior People & Culture Advisor

Melinda Woledge

Marketing & Communications Manager

Jasmine Koh

Senior Associate & Frank Lab Co-Lead

Alison Choy Flannigan

Partner & Co-Lead, Health & Community

Jordon Lee

Lawyer

Geoff Benson

Lawyer

Meg Lee

Partner & ESG Co-Lead

John Gray

Partner, Technology & Digital Economy Co-Lead and NSW Government Co-Lead

Harvey Duckett

Lawyer

Luke Denham

Lawyer

Billie Kerkez

Manager – Smarter Recovery Solutions

Jemima Whiteman

Lawyer

Bradley White

Lawyer

Sarah Khan

Lawyer

Audrey Leahy

Special Counsel & Head of Irish Desk

Nicole Tumiati

Partner & Retail & Consumer Goods Leader

Marie Mitilineos

Lawyer

Gloria Tam

Lawyer

Peter Jones

Senior Commercial Counsel

Eden Winokur

Partner & Head of Cyber

Jennifer Degotardi

Partner & NSW Government Co-Lead

Sheldon Fu

Lawyer

Claire Bourke

Lawyer

Chloe Taylor

Lawyer

Silvana Brcina

Lawyer

Daphne Schilizzi

Lawyer

Andrew Banks

Lawyer

Isabella Urso

Lawyer

Jessica Liu

Lawyer

Amelia Spratt

Lawyer

Lisa Ziegert

Director – Client Solutions

Luke Raams

Lawyer

Emma McDonald

Lawyer

Carl Ayers

Lawyer

Maddison Reznik

Senior Associate & Trade Marks Attorney

Rebecca Dodd

Lawyer

Gretel Burns

Lawyer

Ruby Hunt

Pro Bono & Community Co-ordinator

Rachel Bonic

Lawyer

Samantha Frost

Lawyer

Emma Bechaz

Lawyer

You might be also interested in...

Thinking | 27 Nov 2015

Hall & Wilcox expands Newcastle property team with appointment

Leading independent business law firm Hall & Wilcox continues to expand its Newcastle presence, having appointed a new senior associate, Natalie Chapman, to its Property & Projects team. Ms Chapman recently returned to Newcastle after spending five years in Melbourne, where she built and fostered a successful commercial property practice. Ms Chapman is a commercial […]

Thinking | 28 Sep 2015

Hall & Wilcox Sydney has moved

Where have we moved? Hall & Wilcox Sydney is now located at: Level 9, 60 Castlereagh Street, Sydney. All online services, email addresses and phone numbers remain the same. Why the move? Due to Hall & Wilcox’s rapid expansion in Sydney over the last 18 months, we needed to find a new space. This has allowed us to create […]